Biggest Reasons to Switch to a New Accounting Agency

By AdminAssist tagged in Outsourcing and Accounting - Aug 24, 2020 9:50:32 AM 5 min read
Woman helping man with accounting

No one enjoys major changes, especially staffing and recruitment agencies that are in the middle of trying to figure out how to get through a pandemic in one piece. However, one change that may be very beneficial to their organization is making the switch from their current accounting agency to a different one. 

This is a change that over a third of small businesses are actively willing to make, provided that they find the right accounting agency to replace their current one. To help you figure out if it is the right time to make the switch to a new accounting agency, here are a few of the biggest reasons why you might want to do so. 

A Lack of Familiarity With Your Industry

At the end of the day, if your accounting firm is not actively strengthening your business, then they are not the right choice for you. And one of the many things that an accountant will need in order to properly help your business is a familiarity with the industry. 

This doesn’t just mean a basic understanding of what a staffing and recruitment agency does either. This knowledge should extend to the point where your industry is one of their specialties and they have a thorough understanding of all the ins and outs of what businesses in your industry have to deal with. By having this, it will help them to know everything that they can do in order to help maximize the amount of money that your business is able to save and optimize the entire accounting process. 

Luckily, this is something that 74 percent of businesses already know to look for when it comes to choosing their accountants. But for those remaining 26 percent of small businesses, it is important that they take an honest look at how well their current accounting firm understands their industry. If you have noticed that your current accounting firm doesn’t have the level of intimacy with your industry that you would prefer, then it is a clear sign that you should probably make the switch over to one that does.

It is Difficult to Reach Them

When you need to talk to your accountant, this should be a process that is as simple as picking up the phone or typing out a quick email. But if you don’t get a response after a couple of hours, it can be particularly frustrating. 

Timely communication is of the utmost importance, especially when it comes to managing the financial side of a business, which means that you should always have an accounting agency that is easy to get in touch with. Once you start to feel neglected or left in the wind for hours at a time, this is a big indicator that you should start shopping around for a new agency to take over your accounting needs. 

The Agency Has Undergone Major Organizational Changes

Whenever a company experiences any sort of big organizational changes, there is always the risk that whatever company is left is not going to be the same one that you have grown familiar with. This isn’t necessarily a bad thing but is certainly going to be a jarring experience. 

Hopefully, these changes are for the better and have further improved the accounting agency that you already know and love. However, if the agency now seems like it is no longer able to act in your best interest as a result of these major organizational changes, then there is no use trying to stick with them while they spend the next several months or even years trying to figure out how to work out the kinks in their new system. 

Instead, you should find an accounting firm that has found a tried and true organizational structure that will help them put your needs at the top of their priority list. 

You Pay Too Much

The entire point of an accounting agency is to help you save as much money as possible through the smart management of your tax records and transactions. Therefore, if you are spending far too much on these accounting services, then it is essentially not helping you get ahead at all. That’s why you need to keep an eye on how much you are spending on your current accounting services and be very aware of how these costs compare to those charged by other leading competitor agencies. 

If you find that it is too high, then you may be able to work out a deal, especially with a firm that you have been working with for many years. However, if a deal is not able to be reached, then you shouldn’t stay with them and continue to pay out of the nose simply because it’s easier than making the switch to a new accountant. 

While there are plenty of ways that you can help to reduce your current accounting costs, there are no methods that are as effective as switching to a new accounting agency. So don’t waste your time with changes that aren’t going to have much of an impact and instead find a firm that is going to charge you a much more reasonable price for the same quality of accounting services. 

The Technology Used is Outdated

As a staffing agency, you likely value technology that can help to streamline your operations. As a result, you should be able to expect the same thing from your accounting firm. Unfortunately, not all accounting firms are up to date on the latest and greatest technological advances within the money management industry. As a result, a lot of the technology that they might be using is outdated and makes providing you with accurate and timely bookkeeping information a much bigger challenge. 

If this is the case, then it may be time to go to an accounting firm that embraces the latest technology and uses it to help streamline your financial needs. 

Regardless of which of these reasons you cite for wanting to switch to a new accounting firm, it is important that you pick one that is going to benefit your business. That’s why you should trust our professionals at AdminAssist who are able to serve as your expert outsourced accounting team. To find out how we can help your business, contact us today.

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